CPF interest rate for Ordinary Account stays at 2.5%

nFn · 30-08-2011, 11:19 PM

CPF interest rate for Ordinary Account stays at 2.5%
Posted: 29 August 2011 1433 hrs
http://www.channelnewsasia.com/stori...149789/1/.html

SINGAPORE: The Central Provident Fund (CPF) Board said members will continue to receive an interest rate of 2.5 per cent on their Ordinary Account savings from 1 October 2011 to 31 December 2011.

This is despite the computed CPF interest rate, derived from the major local banks' interest rates from 1 May 2011 to 31 July 2011, working out to 0.36 per cent per annum.

Members will also continue to receive an extra 1 per cent interest on the first $60,000 of their combined balances, with up to $20,000 from the Ordinary Account.

The extra interest from the Ordinary Account will go into the member's Special or Retirement Account to enhance retirement savings.

- CNA /ls

Robson · 31-08-2011, 09:29 AM

This is also politics?

31-08-2011, 10:28 PM

well indirectly it is politices because the public think the govt control the interest rate.

if intererst rate low - blame govt

if interest rate high - blame govt too.

Better to have 0 interest to suits everyone needs

31-08-2011, 10:43 PM

Quote:

Originally Posted by Robson

This is also politics?

Yes, we can politicalize it if you want to

smellyfish · 07-09-2011, 10:52 AM

heard next year special account no more 4%

therat · 07-09-2011, 04:05 PM

Quote:

Originally Posted by smellyfish

heard next year special account no more 4%

WHAT!
Don't want la..
I want 4%

Jon409 · 07-09-2011, 04:19 PM

Quote:

Originally Posted by therat

WHAT!
Don't want la..
I want 4%

i dun want 4% ...i want more

Steven Lee · 10-09-2011, 01:02 PM

Gib you 40% also no use lah bro,,,, Can see cannot touch,,,,,

globalcookie · 12-09-2011, 12:32 PM

Let's remember, higher interest will have effect on loans, which many of us are stuck with.

How did CPF get 4%? Figures are not magic or pluck from the sky. If CPF rates goes higher, interbank rates will be affected, and lending rates will go up.

How many of us are in debt and don't mind paying 1% more to our loans? I mind! So we have to be realistic.

Back in the mid 90s, Prime Rate was as high as 6.25%. How about home loans? I heard it was around 7%. Just imagine, the current rate we are paying hovers ard 1.5%, and if this increase to 7%.. our loans will be very costly.

therat · 12-09-2011, 12:45 PM

4% is for SA and MA account.
OA still 2.5%

OA interest keep low low
SA and MA and RA as high as possible.

30-08-2011, 11:19 PM	#1
nFn Arofanatic Join Date: Nov 2005 Posts: 269	CPF interest rate for Ordinary Account stays at 2.5% CPF interest rate for Ordinary Account stays at 2.5% Posted: 29 August 2011 1433 hrs http://www.channelnewsasia.com/stori...149789/1/.html SINGAPORE: The Central Provident Fund (CPF) Board said members will continue to receive an interest rate of 2.5 per cent on their Ordinary Account savings from 1 October 2011 to 31 December 2011. This is despite the computed CPF interest rate, derived from the major local banks' interest rates from 1 May 2011 to 31 July 2011, working out to 0.36 per cent per annum. Members will also continue to receive an extra 1 per cent interest on the first $60,000 of their combined balances, with up to $20,000 from the Ordinary Account. The extra interest from the Ordinary Account will go into the member's Special or Retirement Account to enhance retirement savings. - CNA /ls

12-09-2011, 12:32 PM	#9
globalcookie Dragon Join Date: Nov 2007 Posts: 1,446	Let's remember, higher interest will have effect on loans, which many of us are stuck with. How did CPF get 4%? Figures are not magic or pluck from the sky. If CPF rates goes higher, interbank rates will be affected, and lending rates will go up. How many of us are in debt and don't mind paying 1% more to our loans? I mind! So we have to be realistic. Back in the mid 90s, Prime Rate was as high as 6.25%. How about home loans? I heard it was around 7%. Just imagine, the current rate we are paying hovers ard 1.5%, and if this increase to 7%.. our loans will be very costly. Last edited by globalcookie; 12-09-2011 at 12:35 PM.

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31-08-2011, 09:29 AM	#2
Robson Arofanatic Join Date: Oct 2002 Posts: 441	This is also politics?

31-08-2011, 10:28 PM	#3
Kalimantan Guest Posts: n/a	well indirectly it is politices because the public think the govt control the interest rate. if intererst rate low - blame govt if interest rate high - blame govt too. Better to have 0 interest to suits everyone needs

07-09-2011, 10:52 AM	#5
smellyfish Dragon Join Date: Mar 2003 Posts: 622	heard next year special account no more 4%

10-09-2011, 01:02 PM	#8
Steven Lee Dragon Join Date: Mar 2005 Posts: 721	Gib you 40% also no use lah bro,,,, Can see cannot touch,,,,,

12-09-2011, 12:45 PM	#10
therat Arofanatic Join Date: Jun 2004 Posts: 279	4% is for SA and MA account. OA still 2.5% OA interest keep low low SA and MA and RA as high as possible.

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